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Real Exchange Rate Misalignment in Turkey, 1987-2003 (in Turkish)
Kibritcioglu, Aykut; Kibritcioglu, Bengi - EconWPA - 2004
Real exchange rate misalignment measures deviations of actual real exchange rate from its long-run, or equilibrium …, level. Policy makers and many researchers are interested in predicting and monitoring misalignment in the foreign exchange … of misalignment employed in this study show that the differences between these alternative measures vary between 6.5 and …
Persistent link: https://www.econbiz.de/10005412763
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Investment-Saving Comovement under Endogenous Fiscal Policy
Levy, Daniel - EconWPA - 2005
I expand Feldstein’s (1983) model by including flexible exchange rate and by introducing endogenous fiscal policy. Using this model, I demonstrate how a positive investment-saving correlation can arise in a world with endogenous fiscal policy. I show that this correlation does not depend on...
Persistent link: https://www.econbiz.de/10005119430
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Budget Deficit Persistence and the Twin Deficits Hypothesis
Normandin, Michel - EconWPA - 1996
This paper gauges the causal relationship between external and budget deficits by using Blanchard's overlapping generations model. This model sests the twin deficits hypothesis (i.e. there is a positive relationship between the deficits) and the Ricardian equivalence hypothesis (i.e. there is no...
Persistent link: https://www.econbiz.de/10005561364
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Purchasing power parity: an empirical study of three EMU countries
Duarte, António Portugal - EconWPA - 2005
We apply Purchasing Power Parity (PPP) theory to the analysis of long- run equilibrium in the foreign exchange market. We study the case of Portugal vis-à-vis Germany and Spain, and the case of Spain vis-à-vis Germany, in the period 1960-1990. The empirical analysis was based on unit-root...
Persistent link: https://www.econbiz.de/10005124909
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Inflation, Output, and Stabilization in a High Inflation Economy: Turkey, 1980-2000
Dibooglu, Selahattin; Kibritcioglu, Aykut - EconWPA - 2001
This paper surveys and examines the sources of fluctuations in inflation and output in Turkey. Using a dynamic open economy aggregate supply - aggregate demand model with imperfect capital mobility and structural vector-autoregressions, the authors consider real oil price, supply, balance of...
Persistent link: https://www.econbiz.de/10005126163
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Inflation, Output Growth, and Stabilization in Turkey, 1980-2002
Dibooglu, Sel; Kibritcioglu, Aykut - EconWPA - 2003
Using a dynamic aggregate supply and aggregate demand model with imperfect capital mobility and structural VARs, we decompose inflation and output movements into those attributable to terms of trade, supply, balance-of-payments, fiscal, and monetary shocks. Empirical results show that terms of...
Persistent link: https://www.econbiz.de/10005126299
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Real Exchange Rates in Central and Eastern Europe : What Scope for the Underlying Fundamentals?
DUFRENOT, Gilles; Egert, Balazs - EconWPA - 2003
The aim of this paper is to study the the fundamental macroeconomic determinants of both the CPI and the PPI-based real effective exchange rate in 5 selected acceding countries from Central and Eastern Europe, i.E the Czech Republic, Hungary, Poland, Slovakia and Slovenia. The paper is based on...
Persistent link: https://www.econbiz.de/10005407633
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Real Exchange Rates in Central and Eastern Europe : What Scope for the Underlying Fundamentals?
DUFRENOT, Gilles; Egert, Balazs - EconWPA - 2003
The aim of this paper is to study the the fundamental macroeconomic determinants of both the CPI and the PPI-based real effective exchange rate in 5 selected acceding countries from Central and Eastern Europe, i.E the Czech Republic, Hungary, Poland, Slovakia and Slovenia. The paper is based on...
Persistent link: https://www.econbiz.de/10005407661
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Trade Balance and Exchange-Rate for a Small Open Economy during the EMS: The Hellenic Case 1983:1-1995:12
Theodoros, Stamatopoulos - EconWPA - 2005
We are interested on assessing the effectiveness of the Bank of Greece (BoG) exchange rate policy, to achieve the objective of adjusting balance of payments des-equilibrium, during the period 1983:1-1995:12. The traditional theory of the balance of payments adjustment process through exchange...
Persistent link: https://www.econbiz.de/10005408156
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Purchasing power parity: an empirical study of three EMU countries
Duarte, António Portugal - EconWPA - 2005
We apply Purchasing Power Parity (PPP) theory to the analysis of long- run equilibrium in the foreign exchange market. We study the case of Portugal vis-à-vis Germany and Spain, and the case of Spain vis-à-vis Germany, in the period 1960-1990. The empirical analysis was based on unit-root...
Persistent link: https://www.econbiz.de/10005408164